Toyota investing $1B in its AI-focused research company in Silicon Valley

Toyota investing B in its AI-focused research company in Silicon Valley

In a Friday announcement, bigwig Japanese automaker Toyota revealed that it has earmarked an amount of $1 billion for investment in a research company it is setting up in the US Silicon Valley. The research company will focus on developing artificial intelligence (AI) and robotics. Toyota’s plans to invest $1 billion in AI in the US underscore the company’s evident efforts to lead in futuristic self-driving cars, as well as to apply the technology to other spheres of daily life. The $1 billion investment which Toyota will make in its research company in the Silicon Valley will be spread over a period of five years. This investment will be in addition to the $50 million investment which Toyota had previously announced for AI research at Stanford and MIT. According to…